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South Dakota Codified Laws
Title 58
Chapter 58-27
S.D. Codified Laws ch. 58-27
Loans and Investments of Insurers
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58-27-1
Application of chapter.
58-27-2
Eligible investments by insurers--Violation as misdemeanor.
58-27-3
Time of determination of eligibility of investment.
58-27-4
Prior legal investment deemed eligible.
58-27-5
Acquisition of ineligible securities or property--Disposition.
58-27-6
Time of investment limitation based on amount of insurer's admitted assets, risk based capital, or capital and surplus.
58-27-7
Investments required to produce income--Exemptions--Rules.
58-27-8
Security or investment ineligible for purchase or exchange at more than market value.
58-27-9
Obligations of United States or Canada.
58-27-10
Loans guaranteed by United States or Canada.
58-27-11
Obligations of states, provinces, and political subdivisions.
58-27-12
Revenue bonds of states, provinces, and political subdivisions.
58-27-12.1
Maximum investments in bonds, warrants, and evidence of indebtedness.
58-27-13
Obligations or stock of federal agencies.
58-27-14
Certificates of deposit in federally insured banks.
58-27-15
Federally insured savings and loan accounts.
58-27-15.1
Credit Union accounts.
58-27-16
Obligations of international bank and certain development banks for reconstruction and development.
58-27-17
Investments authorized for insurers.
58-27-18
58-27-18 to 58-27-22. Repealed by SL 1992, ch 350, §§ 14 to 18
58-27-23
Nonassessable common stock of corporation--Insurance stocks excepted.
58-27-24
Stock of solvent insurers meeting requirements.
58-27-25
Insurer acquiring controlling interest in another stock insurer--Limitation as to amount.
58-27-26
Investments in stock of majority owned subsidiary corporations.
58-27-27
Maximum amount of investments in stock of majority owned subsidiary, or another insurer or wholly owned subsidiary.
58-27-28
Equipment trust obligations or certificates.
58-27-29
Foreign securities--Insurer authorized to do business in foreign country--Limitation as to amount.
58-27-30
Collateral loans--Pledge of securities--Restricted amount.
58-27-31
Policy loans by life insurer--Maximum amount.
58-27-32
Real estate mortgages and deeds of trust.
58-27-33
"Improved real property" defined.
58-27-34
Interests and restrictions not constituting encumbrances upon improved real property.
58-27-35
Deduction of sum owing on real property but not due or delinquent--Reserved rights not included in fair value of property.
58-27-36
Bonds or notes secured by mortgage or trust deed guaranteed by federal housing administration.
58-27-37
Bonds or notes secured by mortgage or trust deed guaranteed by administrator of veterans' affairs.
58-27-38
Equity of seller of real property in contract for deed--Maximum amount of investment.
58-27-39
Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment.
58-27-40
Purchase money mortgage or other securities received by insurer upon sale or exchange of real property.
58-27-41
Maximum loan on security of real property--Misdemeanor.
58-27-42
Real property mortgage loan limited by property value--Loan on leasehold--Additional investment in other assets.
58-27-43
Deduction from loan of amount guaranteed by administrator of veterans' affairs.
58-27-44
Appraisal to determine market value of property.
58-27-45
Loan on or investment in real estate mortgage on security of chattel mortgage--Limited amount.
58-27-46
"Durable equipment" defined.
58-27-47
Acquisition of chattel mortgage--Separate appraisal of included items to determine fair market value--Maximum amount of loan.
58-27-48
Liens on personal property as additional security permitted.
58-27-49
Sale of mortgage loans to federal national mortgage association.
58-27-50
Restrictions on purposes and amount of real estate investments.
58-27-51
Maximum investments in other assets--Exceptions.
58-27-51.1
Additional investment authority--Life and health insurers.
58-27-51.2
Additional investment authority--Property and casualty insurers.
58-27-51.3
Additional investment authority--Valuation of investments.
58-27-52
Limits on categories of investments.
58-27-53
Maximum amount of investments or loans with one person, institution, corporation, or municipal corporation--Exceptions.
58-27-54
Maximum amount of investment in voting stock of corporation--Exceptions.
58-27-55
Maintenance of invested funds--Minimum amount--Guaranteed securities--Real property.
58-27-56
Minimum investments by life insurer.
58-27-57
Maximum amount of investment in certain classes of securities.
58-27-58
Limitations on investments in corporate stock--Exceptions.
58-27-59
Repealed
Repealed
58-27-60
Limits of investments in real estate--Law governing.
58-27-61
Investment or loans on own capital stock.
58-27-62
Loan secured by own stock as collateral.
58-27-63
Repealed
Repealed
58-27-64
"Affiliate" defined.
58-27-65
Finding of director that security designed to evade chapter--Investment or loan prohibited.
58-27-66
Pension or profit-sharing trust agreement not prohibited.
58-27-67
Underwriting of securities or property prohibited.
58-27-68
Foreign insurer--Permitted investment portfolio--Domicile of alien insurer.
58-27-69
Authorization of investment or loan by board or committee of insurer.
58-27-70
Disposal of real estate unnecessary for transaction of insurance business--Time limit.
58-27-71
Disposal of real estate acquired in satisfaction of debt, as part payment of consideration on sale of real estate, as gift or devise, or through merger, consolidation, or bulk reinsurance--Time limit.
58-27-72
Extension of time for disposal of real estate--Election to hold as investment for income purposes, acquisition cost.
58-27-73
Immediate disposal of ineligible property or security unlawfully acquired.
58-27-74
Disposal of lawfully acquired ineligible property--Extension of time.
58-27-75
Ineligible personal property or securities not allowable as assets of insurer.
58-27-76
Expiration of period for disposal of ineligible property or securities--Disallowance as admitted asset.
58-27-77
Immediate disposal of ineligible investment unlawfully acquired.
58-27-78
Nominee holding investments--Definitions.
58-27-79
Name in which investments held.
58-27-80
Holding in name of clearing corporation, custodian bank or nominee--Conditions.
58-27-81
Securities lending, repurchase, reverse repurchase and dollar roll transactions--Agreement required.
58-27-82
Participation in federal reserve book-entry system.
58-27-83
Interest in pool of obligations--Fractional interest in an obligation--Requirements.
58-27-84
Evidence of investment required in absence of certificate.
58-27-85
Banking business authorized--Acquisition of banks--Regulation of such banking business.
58-27-86
Approval of banking acquisition required--Considerations in determining--Conditions.
58-27-87
Banking patronage as prerequisite to issuance of insurance policy prohibited.
58-27-88
Limitation on application of Secondary Mortgage Market Enhancement Act to certain investments.
58-27-89
Definition of terms.
58-27-90
Limitations on acquiring medium or lower grade obligations.
58-27-91
Obligations contracted prior to July 1, 1992.
58-27-92
Multiple obligations in same institution.
58-27-93
Written plans for making medium or lower grade obligations--Contents of plan--Deadline.
58-27-94
Limit on amount invested in medium or lower grade obligations.
58-27-95
Restructuring of medium or lower grade obligation already held.
58-27-96
Conflicting provisions.
58-27-97
Excess transactions.
58-27-98
Promulgation of rules.
58-27-99
Application of §§ 58-27-89 to 58-27-102.
58-27-100
Time limit for compliance with §§ 58-27-89 to 58-27-102.
58-27-101
Investment in money market funds.
58-27-102
Investment in company owned life insurance contracts.
58-27-103
Investment in a collateralized pool of mortgages--Requirements--Restrictions.
58-27-104
Investment in a collateralized pool of assets other than mortgages--Requirements.
58-27-105
Foreign investments.
58-27-106
Repealed
Repealed
58-27-107
Ratification of investment.
58-27-108
Rating and valuation of investments--Requirements--Divestment.
58-27-109
"Institution" defined.
58-27-110
Title plans investments.
58-27-111
Joint venture and limited partnership investments.